Leading online gaming company Universal Gaming Concepts Inc has announced the closure of its Global-Player.com Internet casino after eight years in operation.

The company stated that it decided to close the site following a recent evaluation of its current business.

“The current changes in the legal and economic landscape of the gaming industry has made it increasingly difficult for us to compete and retain our market share” said Giancarlo Bettini, Chief Executive Officer for Universal Gaming Concepts.

“The strategic decision to cease operations while we are still in the position to satisfy our obligations to players, vendors, affiliates and staff reinforces our integrity and commitment to good business practices.'

The company stated that customers’ account balances would be available for immediate payout and that requests would continue to be processed until December 30.

'Your account balance is available for immediate payout and you are encouraged to process your payout immediately to avoid delay,” read a statement on the site.

“If you have not requested your funds prior to our closing date, you must contact Support@Global-Player.com to have your payout requests processed manually.'

Launched in 1999 and licensed in Antigua, Global-Player.com initially used its own proprietary software, but switched to the Boss Media platform earlier this year for its online casino and poker operations.